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Strategy to offer $21 billion in preferred stock to expand Bitcoin holdings

In a recent filing with the Securities and Exchange Commission (SEC), a major corporation has announced its plan to offer up to $21 billion in 8.00% Series A Perpetual Strike Preferred Stock. The move is intended to finance the expansion of its existing Bitcoin holdings.

The company, which has been aggressive in its pursuit of Bitcoin acquisitions, aims to further solidify its position as a major corporate holder of the cryptocurrency. To achieve this goal, it will issue the preferred stock over time under Rules 457(o) and (r), with a registration fee of $3.2 million.

This strategic move comes as no surprise, considering the company’s previous financing methods, such as debt offerings and equity issuances, have been used to fund Bitcoin acquisitions. Under the leadership of Executive Chairman Michael Saylor, the organization has consistently demonstrated its commitment to acquiring and holding Bitcoin as a Treasury reserve asset.

As of current market prices, the company currently holds 499,096 BTC, valued at $41.5 billion.

Source: https://cryptobriefing.com/bitcoin-acquisition-strategy-microstrategy-2/